Anthony Mark Boscarino, who ran the betting website, Mikes Lock Club and who had pleaded guilty earlier this year to 43 charges including fraud, money laundering and tax evasion, was sentenced Tuesday to over ten years in prison.
Boscarino, say prosecutors was involved in multiple frauds using his Internet sports handicapping site, which operated under multiple names including Mike’s Lock Club.
He looked for victims to invest in gambling junkets to Las Vegas, an oil well project and several other scams to con victims out of millions.
Boscarino made a news release in 2010 which was to solicit money from investors for a fictitious high-limit slot machine player who made regular trips to Las Vegas to play with investors’ money and hopefully win.
The indictment said Boscarino received about $7.7 million from investors and of that he diverted about $5 million through various banks for his own personal use.
In the court judgement Boscarino was ordered to pay restitution of $6.5 million to 1,685 victims. He was also ordered to pay $1.3 million in unpaid taxes. The court has also ordered that he forfeit several of his cars and bank accounts.
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